In a Chapter 7 bankruptcy the person turns over all of their non-exempt assets or property (vehicle, house, savings, for example) to a bankruptcy trustee who liquidates it and distributes the proceeds to the unsecured creditors such as credit card companies, medical bills or loans. People can usually keep most of their personal property (jewelry, tools, clothing, for example).
An attorney/lawyer admitted to the Federal Bankruptcy Court. Boleman Law is the largest bankruptcy law firm in Virginia. Boleman Law attorneys offer clients the benefit of experience and skill because they file more bankruptcies than any other firm.
The Chapter 7 bankruptcy process normally takes about six months.
The Chapter 13 bankruptcy process can extend to 60 months as planned payments are made to creditors under the bankruptcy plan.
A skilled Boleman Law attorney who has had specialized training and experience in the complex bankruptcy process. Boleman Law attorneys file more Chapter 13 bankruptcies and have a higher success rate than any other law firm in Virginia.
There are two options under the Federal Bankruptcy code for filing personal bankruptcy in Virginia: Chapter 7 or Chapter 13.
This option may be more appropriate to people who have regular income. A Chapter 13 filing immediately “stays” or stops any creditor action such as garnishment, foreclosure, repossession, seizure and attempts at collection including phone calls and letters.
Sometimes known as a “complete” or “straight” bankruptcy, Chapter 7 bankruptcy means that the person turns over all of their non-exempt assets or property (vehicle, house, savings, for example) to a bankruptcy trustee who liquidates it and distributes the proceeds to the unsecured creditors such as credit card companies, medical bills or loans. People can usually keep most of their personal property (jewelry, tools, clothing, for example).
Child support and alimony are usually not be discharged in bankruptcy. In other words, they are not covered by bankruptcy and the person filing will still have to pay them including any arrears.
Bankruptcy costs are set by the court so most attorneys charge about the same.
Yes. Credit card debt may be eliminated in bankruptcy.
Your bankruptcy discharge will be denied if you fail to complete a Debtor's Education Course, and obtain a Pre-Discharge Education certificate.
Thank you for your interest in Boleman Law Firm. We are honored to meet with you to determine what options are available and what we can do to help.
Yes. Lawfully issued fines may not be discharged in bankruptcy – they will still be owed.
Yes. In Virginia bankruptcy is the only certain way to stop a foreclosure. The foreclosure is stopped immediately when the bankruptcy is filed. During your free consultation with a Boleman Law attorney the differences on how a Chapter 7 and a Chapter 13 bankruptcy affects foreclosure will be fully explained.
A Chapter 13 bankruptcy usually allows you to keep your home. A Chapter 7 bankruptcy usually will not allow you to keep your home. During your free consultation with a Boleman Law attorney the differences on how a Chapter 7 and a Chapter 13 bankruptcy affects keeping your home will be fully explained.
Yes. Full disclosure of all income and assets is required. Failure to do so may result in fraud charges.
In Virginia a bankruptcy filing immediately stops a foreclosure. A Chapter 13 bankruptcy filing payment plan allows you up to 60 months to catch up on mortgage arrears while keeping the mortgage payments current in the future. A Chapter 7 bankruptcy filing will stop foreclosure for a few months, giving you time to locate new accommodation and move in an orderly fashion. During your free consultation with a Boleman Law attorney the differences on how a Chapter 7 and a Chapter 13 bankruptcy affects keeping your home will be fully explained.
Payday, title and Internet loans may be eliminated in bankruptcy.
A second mortgage may be eliminated in bankruptcy when certain conditions are met. During your free consultation with a Boleman Law attorney the conditions will be fully explained.
The adjudicating agency (usually the military or a government department) has the final say and there is an appeal process. If you have been completely truthful in the interviews and the bankruptcy was filed to mitigate a financial situation not under your control (overwhelming medical bills, for example), your security clearance may not be affected.
No. At this time student loans may not be discharged in bankruptcy. There are some instances where bankruptcy may discharge other debts, allowing funds to be used to pay the student loan. During your free consultation with a Boleman Law attorney your legal options will be fully explained.
Federal and state taxes may not be discharged in bankruptcy. However there are options which may allow taxes to be reduced or forgiven. During your free consultation with a Boleman Law attorney these options will be fully explained.
Bankruptcy may stop vehicle repossession and can sometimes get the vehicle unlocked or returned even if it has been already repossessed. During your free consultation with a Boleman Law attorney these options will be fully explained.
A Chapter 13 bankruptcy may allow you to keep your vehicle, giving you up to 60 months to catch up on arrears so long as you keep payments current going forward. In a Chapter 7 bankruptcy you usually cannot keep your vehicle. During your free consultation with a Boleman Law attorney these options will be fully explained.
